August was an exciting month for the dividend portfolio. The recent stock market volatility has brought up some great buying opportunities and I took advantage of them. I had some cash set aside for situations like this and I am hoping it will be put to good use over the next few years.
August Dividend Income
I received dividend income from the following sources:
- RioCan REIT
- Crescent Point Energy
- Surge Energy
- Bird Construction
- ETF: iShares Canadian Dividend Aristocrats (CDZ)
- ETF: iShares Select Dividend Index Fund (XDV)
- Cineplex Inc.
- Bank of Montreal
- Canoe EIT Income Fund
Total dividend income: $793.91
Note – some of the dividends received each month are in US currency which is converted at 1:1 for simplicity.
August had some wild swings in the markets and it was my most active month in a long time. When the markets dipped I bought a few solid companies that I think have the potential to grow. Here’s a listing of the companies I bought:
- Royal Bank of Canada (RY)
- Canadian Imperial Bank of Commerce (CM)
- Coca-Cola (KO)
- Telus (T)
- TD Canada Trust (TD)
- Proctor & Gamble (PG)
Additionally I also purchased more shares of Johnson & Johnson (JNJ) and Bell (BCE).
I didn’t plan on spending as much cash as I did (about $12,000) but I feel like the swings in the market are making some good companies look very attractive, and I just couldn’t resist. I was happy to see Royal Bank of Canada (RY) go down as I have been watching it for months. Will it continue to go down? Who knows, but if it does I may buy more, and the same goes for the others.
Conclusion: August had some wild swings and good companies became attractively priced, so I spent almost all the cash I had set aside for opportunities like this. If the markets continue to go down I will reevaluate and possibly buy more and continue to hold for the long term. The volatility has made it hard to predict but I plan on reinvesting all of the dividend income I receive to buy more.
How was your investment income last month? What are you watching/buying?